JPM SERIES TRUST
497, 1997-08-28
Previous: INDUSTRI MATEMATIC INTERNATIONAL CORP, DEF 14A, 1997-08-28
Next: PROLONG INTERNATIONAL CORP, 10-12G/A, 1997-08-28



JPM SERIES TRUST

Supplement dated August 28, 1997 to the following Prospectuses:

JPM Pierpont Shares: Tax Aware U.S. Equity Fund dated 6/25/97, as supplemented 
   7/30/97
JPM Pierpont Shares: Tax Aware Disciplined Equity Fund dated 6/25/97, as 
   supplemented 7/30/97

Effective  September 1, 1997,  the  redemption fee payable for each Fund will be
reduced  from 2% for shares  held less than one year and 1% for  shares  held at
least one year but less than five  years to 1% for all  shares  held less than 5
years.

1.  The information under the caption "Redemption Fees" in the EXPENSE TABLE on
page 1 is replaced with the following:

                                     JPM Pierpont Shares:  JPM Pierpont Shares:
                                     Tax Aware U.S.        Tax Aware Disciplined
                                     Equity Fund           Equity Fund

Redemption Fees(2):
  Shares held less than 5 years .........1%                     1%
  Shares held 5 years or more............None                   None


2.  Footnote 2 under the EXPENSE TABLE is replaced in its entirety with the 
following:

2 Redemption fees are retained by the Fund and are not paid to any other entity.
Each Fund intends,  whenever possible,  to pay redemptions in excess of $250,000
in the Tax Aware U.S.  Equity  Fund and  $500,000  in the Tax Aware  Disciplined
Equity Fund by an in-kind distribution of portfolio securities. There will be no
redemption fee charged on in-kind distributions.



<PAGE>




3. The caption  "Assuming  Redemption  at the End of Each Period" in the expense
EXAMPLE on page 2 is replaced in its entirety with the following:

                                JPM Pierpont Shares:       JPM Pierpont Shares:
                                Tax Aware U.S.             Tax Aware Disciplined
                                Equity Fund                Equity Fund

Assuming Redemption at 
the End of Each Period

1 Year                           $ 19                       $16
3 Years                          $ 37                       $28
5 Years                          $ 47                       $31
10 Years                         $105                       $69



4. The last sentence in the second  paragraph  under the heading "REDEMPTION OF
SHARES - METHOD OF REDEMPTION" is replaced with the following:


The cash proceeds of any redemption will be reduced by the 1% redemption fee for
shares held less than five years.

5. The table in the first  paragraph  under the  heading  "REDEMPTION  OF 
SHARES-REDEMPTION FEE" is replaced in its entirety with the following:

                                   Redemption Fee Rate as a Percentage of Gross
                                               Redemption Proceeds

YEAR SINCE PURCHASE
Shares held less than 5 years                                          1%
Shares held 5 years or more                                            None



© 2022 IncJournal is not affiliated with or endorsed by the U.S. Securities and Exchange Commission